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Lowe's to Buy Less Flooring From Armstrong

October 13, 2004
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LANCASTER, Pa. - Lowe's Cos. Inc. will buy less laminate flooring from Armstrong Holdings Inc., beginning in the first quarter of 2005, Armstrong officials said Monday.

The decision by Lowe's, the nation's second-largest home-improvement chain, is expected to reduce Armstrong's sales by about $60 million a year and will hurt its operating income in 2005.

Julie Yenichek, a spokeswoman for Mooresville, N.C.-based Lowe's, would not say why the company was reducing its flooring purchases.

"Armstrong is still a large supplier of Lowe's," she said.

Lancaster-based Armstrong, which makes floors, ceilings and cabinets, had net sales of more than $3 billion in 2003. The company operates 44 plants in 12 countries and has approximately 15,000 employees worldwide.

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